Sourcing inventory can be a fun but challenging process. What if there aren’t many cheap thrift stores near you? What if garage sales are low-end and/or sporadic? What if you just don’t have enough money on hand to invest in inventory to resell?

For these people, consignment is a great option that I’ve used with a lot of success.

What is consignment?

Consignment is specifically an agreement to pay a supplier of goods after the goods are sold.

It’s typically done in a store setting, where someone goes into a store and strikes a deal with the shop-keep, however, a person will give you their items to sell online too.

In principle, the owner of the item and the seller of that item will agree on final price. Once the item sells, the seller will pay the (now) former owner, and in turn the seller will get a previously agreed upon percentage of the sale.

How does the item owner get paid?

There are two main ways for item owners to get paid, and there are pros and cons to each method.

Update: Mercari has announced they will be postponing their transition to a 10% fee environment until November 21, 2016. This is their formal statement emailed to all subscribers/users. (Note that all comments below still remain true, just delayed one month.)

The day will come ( if it hasn’t already) when you’ll be minding your own business, scouring through the racks of misfit clothing when suddenly you will stumble upon the HOLY GRAIL.

The HOLY GRAIL is an item that makes your heart completely stop. An item that makes you question if it’s real or too good to be true! It’s an item that makes you question our nation’s priorities — how could something so expensive just be discarded? HOLY GRAILs don’t happen all the time, but when they do, be prepared to break into song.

As a full-time social worker who lives in Hawaii and wants to do all of the fun things that come with living on an island in the Pacific, it can be hard constantly motivating myself to shop, list, package, and repeat.

I’m always amazed how truly bad some product photographs are. Whether you’re just clearing out your closet, flipping part time, or trying to make some serious cash, why would you shortchange yourself (almost literally) with off-putting product photos? It’s important to learn how to take great photos for eBay, Poshmark, Mercari, or Etsy!

One of the things I find most surprising about thrift shopping in Hawaii is how much winter wear these people have. The Goodwill I go to is littered with sweaters, hoodies, and jackets that I just can’t possibly imagine people at this latitude wearing. But alas, I buy and sell a ton of cold weather gear.

I started taking flipping seriously during the spring months and began to hone my craft during the summer. While my strategy has always been to get items in and out as quickly as possible, even if they don’t sell for the most money possible, I quickly found myself developing an impressive hoodie collection that a New England native like myself would envy.

Whether you sell on Poshmark, Mercari, or some other app, the shipping is almost universally the same.

A ripoff.

On Poshmark, every item, no matter the size, weight, or type, costs $5.95 to ship. That really eats into your profit margin.

On Mercari, the same is pretty much true. For items weighing 8 oz. or less, you can use Mercari’s minimum $4 shipping. If your item weighs between 8-16 oz., the only option they offer is $6 priority shipping.

Would you leave the house without your purse or sunglasses? I know that I wouldn’t! So why would you overlook them at the thrift store? There are plenty of people out there looking for designer goods on the cheap — do you know how to sell designer handbags online?

I see bold accessories as a woman’s armour.
– Rachel Zoe, Fashion Designer

The thrift store has a wealth of high quality items with big resale potential. Here are 12 of the name brands you should look for, both the obvious and the not-so-obvious.

The reason is simple: you’ll sell more stuff when you make people feel connected to your items!

Part of that connection is the utility and usefulness they’ll get from buying what you’re selling, but part of it is appealing to the impulsive nature of people — making them want what you’re selling right now.

In my experience, it’s a lot easier to sell to men than women, which shouldn’t be a surprise because men are more impulsive shoppers than women.

Impulse buys: men vs. women

Type of Impulse Buy

Yes: Men

Yes: Women

$500 or more

21%

9%

$25 or more

85%

74%

Of course, we’re (usually) not talking about $500 articles of clothing here, but in that same survey, 85% of male impulse buyers said they had spent at least $25 compared to 74% of women. That means men are 15% more likely to impulsively buy an item for $25 or more. That’s our target audience!